Global Tech Industries Group, Inc. Believes it is Positioned for Sustained Growth in 2021 and Beyond
New York, NY, May 18, 2021 (GLOBE NEWSWIRE) — (GTII:OTCQB) Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that it is performing ahead of schedule regarding the goals it laid out in its 2020/2021 business plan, including up-listing to the OTCQB marketplace, pursuing and closing potential acquisitions and stock exchange partners in the eye health and wellness industries, and improving its balance sheet, cash flow and operations. During the calendar year 2020, the Company was successful in converting 4.66 million dollars of debt into equity through the issuance of stock and options to debt holders, as well as improving its liquidity and working capital by almost $400,000 dollars. The total equity of GTII increased by $3.9 million dollars in 2020, which has given the Company the flexibility to restructure as it sees fit, and potentially take advantage of unique and/or exceptional business opportunities.
One of the most significant moves GTII has made in the last thirty days has been to align itself with Alt5 – Sigma (“Alt5”), a digital platform developer, and Ron Cavalier, a well-known individual in the world of fine arts and collectibles, as he successfully completed the purchase, on behalf of GTII, of an original Picasso, ‘Quatre Femmes Nues Et Tete Sculptee’ which was executed in 1934 on Montval laid paper and published by A. Vollard, Paris, in 1939. It is GTII’s intent to digitize this piece of art, as well as others it is hoping to purchase, in order to take a position in the world of Non-fungible Tokens (NFT), the digitizing of fine art and collectibles, and the development of a digital platform to support those efforts.
David Reichman, GTII’s Chief Executive Officer, stated, “GTII is now moving more confidently and swiftly, as we augment our already growing portfolio with a dynamic partnership in a vibrant industry, where the growth potential is unknown, and may be exponential. We are in constant contact with Alt5 and intend to solidify our relationship in the very near future.”
About Global Tech Industries Group, Inc.: GTII, a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
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